RHB Banking Group has unveiled a comprehensive pathway to achieve net zero emissions by 2050 aligning itself with ASEAN’s just and responsible transition to a low-carbon economy.
In leveraging its 5-Year Sustainability Strategy and Roadmap (2022-2026), RHB strengthened its climate commitment by establishing a new Pillar 2, ‘Committed to Achieving Net Zero by 2050’. This pillar it showed expands upon the Group’s existing climate focus, outlining focus areas: Reduction of Financed Emissions, Driving growth in Green Financial Services and Supporting Companies Committed to Carbon Neutrality, and Integration of sustainable and low-carbon practices into its own operations.
The commitment also aligns with Malaysia’s ambition to achieve net-zero GHG emissions by 2050, as outlined in the National Energy Transition Roadmap (“NETR”) and supported by frameworks like the Hydrogen Economy & Technology Roadmap and New Industrial Master Plan 2030 (“NIMP 2030”). The Group’s Net Zero commitment acknowledges the financial sector’s crucial role in directing capital towards sustainable and low-carbon activities.
The group listed three main objectives; Reduction of financed emissions in five high-impact sectors within RHB’s
business; Driving growth in Green Financial Services & Supporting companies committed to Carbon Neutrality and Strategic Objective 3: Integration of sustainable and low-carbon practices into RHB’s own operations
“Our Net Zero pathway is a commitment to the communities we serve, the environment, and the future, ensuring progress happens for everyone. However, we recognise that our journey to achieving Net Zero cannot be carried out in silo. We will continue to engage with our clients, business partners, employees, and the broader community to embark on our Net Zero journey together. We shall also collaborate with governmental bodies, regulatory authorities and other stakeholders in order to create a scalable impact, while at the same time, be guided on the progress and development of government policies,
directives and incentives towards achieving our Net Zero 2050 Commitment,” said Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group.
